the only note i noticed, is you not really looking over dells site
Dell uses intel motherboards. interesting comparison, but you obviously didn't research it much, even though i knew dell used intel motherboards, it took 10 seconds to find it out.
Let see..
To upgrade the CPU to a P4 2.2 its about $120
The LCD flat panel is a Samsung too, and an ultra sharp, though the lower end CRT they shop isn't trinitron most of the others are, its not blurry
The speakers are Altec Lansings which are not cheapos. not the best, but waaay better than the worst.
Its an intel integrated ethernet controller which are some of the best around.
The video controller can be replaced with a new card.
The dell can also be upgraded for free to a 19" CRT for free.
You missed this, 1 year warranty + 1 year "at home" service.
WordPerfect is one of the top rated word processors around.
Also your system doesn't come with any software, so the price goes up considerably to be a fair comparison, interesting it'll come out more than a processor upgrade for the dell ( and a floppy/cdrw )
There is your explanation, you cheaped out on the monitor, removed all the software, and no at home warranty, and you have to build it and set it up
for a valid comparison, you'd have to add those.